Ajmera Realty Acquires Land Parcel in Ghatkopar East
31 Jan 2025
2 Min Read
CW Team
Ajmera Realty & Infra India (ARIIL) has acquired a 1,341.1 sq. mt. premium land parcel in Ghatkopar East, Mumbai. This acquisition, secured through a competitive bidding process with KJ Somaiya Trust at a cost of Rs 0.51 billion. With the earnest money paid and an MoU in place, the project is expected to yield a carpet area of ~44,000 sq. ft., with an estimated GDV of Rs 1.75 billion, said the BSE filing.
Situated in Ghatkopar East, a well-established locality with a rising demand for spacious, high-end living, the company sees significant potential to launch an ultra-luxury project in this prime neighbourhood. The locale demand for affluent living standards and premium, high-configuration apartments makes it an ideal location for such a development. This new acquisition further strengthens the company鈥檚 presence in the Central Mumbai market, reinforcing its commitment to delivering top-tier residential projects tailored to evolving customer preferences.
Commenting on the development, Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said, ""The acquisition of this land parcel represents a key step toward our long-term goal of expanding into prominent real estate hotspots across the megapolis. Ghatkopar, as a micro-market, has become an attractive destination for homebuyers in the Eastern suburbs, and this outright acquisition, backed by our robust cash flow position, further strengthens our growth strategy.
This micro-market is distinguished by its unique characteristics and significant potential, driven by the rising demand for luxury and ultra-luxury homes. With this acquisition, we aim to meet the demand for premium living spaces while reinforcing our presence in the eastern and fast-evolving suburbs of the city. Moreover, this move aligns perfectly with our vision of achieving 5x growth, as we remain dedicated to delivering exceptional value to our stakeholders and seizing emerging opportunities in the real estate sector.
Ajmera Realty & Infra India (ARIIL) has acquired a 1,341.1 sq. mt. premium land parcel in Ghatkopar East, Mumbai. This acquisition, secured through a competitive bidding process with KJ Somaiya Trust at a cost of Rs 0.51 billion. With the earnest money paid and an MoU in place, the project is expected to yield a carpet area of ~44,000 sq. ft., with an estimated GDV of Rs 1.75 billion, said the BSE filing.Situated in Ghatkopar East, a well-established locality with a rising demand for spacious, high-end living, the company sees significant potential to launch an ultra-luxury project in this prime neighbourhood. The locale demand for affluent living standards and premium, high-configuration apartments makes it an ideal location for such a development. This new acquisition further strengthens the company鈥檚 presence in the Central Mumbai market, reinforcing its commitment to delivering top-tier residential projects tailored to evolving customer preferences.Commenting on the development, Dhaval Ajmera, Director, Ajmera Realty & Infra India Ltd, said, The acquisition of this land parcel represents a key step toward our long-term goal of expanding into prominent real estate hotspots across the megapolis. Ghatkopar, as a micro-market, has become an attractive destination for homebuyers in the Eastern suburbs, and this outright acquisition, backed by our robust cash flow position, further strengthens our growth strategy.This micro-market is distinguished by its unique characteristics and significant potential, driven by the rising demand for luxury and ultra-luxury homes. With this acquisition, we aim to meet the demand for premium living spaces while reinforcing our presence in the eastern and fast-evolving suburbs of the city. Moreover, this move aligns perfectly with our vision of achieving 5x growth, as we remain dedicated to delivering exceptional value to our stakeholders and seizing emerging opportunities in the real estate sector.
Next Story
Blum India brings Design Reverie to Hyderabad
Blum India hosted the Hyderabad edition of its signature event, Design Reverie, at the historic Taj Falaknuma Palace, making it a memorable evening for the city鈥檚 architecture and interior design community. As per news reports, the event combined modern design sensibilities with the grandeur of a palace setting and the spiritual charm of Sufi qawwali.This marked the third edition of the event, after previous gatherings in Delhi and Bangalore. In Hyderabad, the focus was on fostering relaxed yet meaningful dialogue among design professionals鈥攁way from the typical conference setup. The eveni..
Next Story
Hafele launches Platinum Studio in Nagpur
Hafele has expanded its franchise footprint in central India by opening a new Studio Partner Platinum showroom in Nagpur in collaboration with Onkar Furnitech. The studio was inaugurated by Nitin Gadkari, Minister of Road Transport and Highways, along with Padma Gupta, Director 鈥� HR & Customer Experience, Hafele South Asia.Located at Sarthak Plaza, South Ambazari Road, Laxmi Nagar, the showroom offers an immersive experience of Hafele鈥檚 wide-ranging interior and home solutions. Designed as a hands-on, real-life application space, the studio showcases Hafele鈥檚 full portfolio鈥攊ncludi..
Next Story
Truflo by Hindware wins GPTW honour again
Truflo by Hindware has been certified a Great Place to Work for the fourth consecutive year, reaffirming its commitment to a people-first culture. The certification was awarded by the Great Place to Work Institute following a rigorous evaluation of employee experience, leadership, culture, and HR practices.Known as India鈥檚 fastest-growing plastic pipes and fittings company, Truflo has focused on fostering an inclusive, innovative, and growth-driven work environment. The company prioritises employee well-being and professional development, creating a culture where people feel valued and empow..
